"It is time to shake up the current players of the Canadian broadcasting system," Peladeau, CEO of Quebecor Media, told a Toronto news conference.

Modeled on Rupert Murdoch's Fox News channel, Peladeau's 24/7 "hard news/straight talk" channel will replace its existing Sun TV over-the-air station in Toronto. He said he would spend $100 million over five years.

The channel will be run by Kory Teneycke, a former spokesman for Canadian prime minister Stephen Harper. Teneycke wasted no time Tuesday belittling main competition from the CBC News Network and CTV News Channel as "boring, smug and condescending." He was at pains to point out Sun TV News would be less about creating a left-right divide among Canadians as offering an engaging alternative to staid Canadian news channels.

"Far too many Canadians are tuning out completely or changing their dials to American all-news channels," Peladeau chimed in, referring to the Fox News, MSNBC and CNN channels readily available to Canadians nationwide.

Quebecor has applied to the CRTC, Canada's TV regulator, for a broadcast license to launch Sun TV News as a must-carry for domestic cable and satellite TV operators.